Regency Centers (NASDAQ:REG) Updates FY 2024 Earnings Guidance

Regency Centers (NASDAQ:REG) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.210-4.250 for the period, compared to the consensus estimate of 4.23. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on REG shares. Evercore ISI downgraded shares of Regency Centers from an outperform rating to an inline rating and increased their price objective for the stock from $72.00 to $75.00 in a research report on Monday, September 16th. Mizuho lifted their price objective on shares of Regency Centers from $67.00 to $73.00 and gave the company an outperform rating in a research report on Monday, August 19th. Raymond James increased their price target on Regency Centers from $67.00 to $75.00 and gave the company an outperform rating in a research note on Friday, August 16th. Truist Financial raised their price objective on shares of Regency Centers from $70.00 to $78.00 and gave the stock a buy rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their target price on Regency Centers from $71.00 to $77.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $76.10.

Regency Centers Stock Down 0.7 %

Shares of NASDAQ REG opened at $71.59 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market cap of $12.99 billion, a PE ratio of 34.92, a P/E/G ratio of 4.66 and a beta of 1.21. The company’s fifty day simple moving average is $70.18 and its 200 day simple moving average is $63.71. Regency Centers has a 12-month low of $56.29 and a 12-month high of $75.26.

Regency Centers (NASDAQ:REG) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. The company had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. During the same period last year, the company earned $1.03 EPS. As a group, sell-side analysts forecast that Regency Centers will post 4.23 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.67 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a yield of 3.74%. Regency Centers’s dividend payout ratio (DPR) is presently 130.73%.

Insider Transactions at Regency Centers

In related news, VP Michael R. Herman sold 1,000 shares of Regency Centers stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the completion of the sale, the vice president now owns 13,010 shares of the company’s stock, valued at approximately $905,105.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael R. Herman sold 1,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $69.57, for a total value of $69,570.00. Following the completion of the sale, the vice president now directly owns 13,010 shares of the company’s stock, valued at $905,105.70. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

About Regency Centers

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.